West Bengal govt awaits Calcutta Stock Exchange’s roadmap, board to discuss future strategy

The West Bengal government is eagerly anticipating the Calcutta Stock Exchange's roadmap for its future strategic direction. The exchange is set to discuss its plans during its board meeting this month. In its first budget proposal, the BJP government in West Bengal committed to supporting the revival of the historic bourse to restore Kolkata's status as a financial hub.

Following the budget announcement in June, the Calcutta Stock Exchange wrote to the Securities and Exchange Board of India (SEBI) requesting a suspension of its proposal for a voluntary exit from stock exchange operations. After a decade-long legal struggle, the regional exchange filed for a voluntary exit in February 2025. Sources within the West Bengal government indicated that they are awaiting a response from the CSE regarding its future strategy.

The exchange must decide on its primary focus area. The Calcutta Stock Exchange, one of the oldest stock exchanges in Asia, faced trading suspension in April 2013 due to regulatory non-compliance. The exchange's future hinges on a dialogue with SEBI to restart operations. Finance Minister Swapan Dasgupta emphasized the revival's potential to attract capital for Eastern India, reduce listing and trading costs, and create employment opportunities.

The state's budget for 2026-27 aims to list profit-making State Public Sector Undertakings on public stock exchanges, leveraging disinvestment and unlocking corporate value. Currently, the Calcutta Stock Exchange's net worth exceeds ₹100 crore, a regulatory prerequisite for a regional bourse. Following the demutualisation scheme in 2007, brokers hold around 49% of the exchange's shares, with the rest owned by corporate investors, including BSE and West Bengal Infrastructure Development Finance Corporation.